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THOSE who subscribe to newspapers or businesses with regular suppliers and customers have likely been receiving emails recently requesting their tax identification numbers and other information to prepare for the introduction of e-invoicing.Certainly, the focus now is on enterprises with annual turnover exceeding RM100mil, as they are required to implement e-invoicing starting Aug 1.The Associated Chinese Chambers of Commerce and Industry of Malaysia recently hosted the Power Chat 4.
I must emphasise that we understand and support the government’s objective in implementing e-invoicing, but are calling for a phased exemption. Instead of covering most unprepared micro-enterprises, which could disrupt the market, increase consumer costs and cause inflation, it’s better to raise the threshold to RM500,000.
I encourage everyone, regardless of industry or business size, to try it to see how to fill in the relevant information to issue an e-invoice. If they face any technical issues or do not understand what information needs to be filled in, they should ask and provide feedback to the IRB. This app should operate similarly to the Chinese model. We should wait for the app’s launch, test its smooth operation, and then gradually expand e-invoicing coverage.
E-Invoicing Bill Digitalisation IRB MSME
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